Tag: tax tips

If you’ve ever looked at your pay-cheque and wondered where all your hard-earned money went, you’re not alone. Most Canadians feel that way. The truth is, our tax system isn’t out to punish success — it’s designed to be progressive....

If you read the budget headlines, you probably saw big promises and small print. The big shift is accounting, not tax relief. Ottawa now labels major projects as capital investment, which makes the annual deficit look better while borrowing continues....

In a recent court case 4490380 Canada Inc. v. The King (2024 TCC), the taxpayer—an experienced real estate investor—won an important victory against the Canada Revenue Agency (CRA).  The question at the heart of the case?  When you sell a...

This one rule could save you thousands, but only if you know it.  Many people overlook how the system works – corporate rental income can face a 50 percent tax if you’re not careful If you’ve ever considered buying rental...

If you’ve ever thought estate planning was just about saving taxes, you might be surprised to learn that the real challenge is finding the money to pay those taxes when the time comes.  Let me tell you a story from...

If you’ve ever sold a property and thought, “I didn’t make much cash, so I won’t owe much tax,” you might be in for a surprise.  Why This Matters  Whether you’re flipping, downsizing, or selling a rental, the CRA doesn’t...

Financial Statements Are More Than Just CRA Paperwork  For most small business owners, accounting is something you do once a year for CRA. You scramble to gather receipts, your accountant files the taxes, and months later, you finally see your...

Most people don’t realize that divorce doesn’t just divide a family—it can also divide your wealth in ways that leave you with far less than you expected.  I recently spoke with Angela Princewell, a family lawyer, about how separation and...

I hear this every week from real estate investors – “I formed a joint venture with a friend. I put in money. He takes care of everything. I haven’t received any cash yet, so I haven’t reported anything.”  Or this. ...